Banking in a theory of the business cycle: a model and critique of the Basle Accord on risk-based capital requirements for banks

This paper presents a theoretical framework for understanding the investment decisions and financing decisions of financial and non-financial enterprises over the business cycle. At the core of this theoretical framework is an agency problem between relatively more risk averse depositor/bondholders and relatively less risk averse stockholders. The solution to this agency problem is a corporate governance system that takes the form of an up-front contract that directs managers to make portfolio/investment decisions in the interest of their stockholders, and financing decisions in the interest of their depositor/bondholders. This enables depositor/bondholders to offset any risk shifting portfolio/investment decisions made on behalf of the shareholders thereby mitigating the moral hazard problem among debtors and creditors. The Basle Accord on risk-based capital requirements for depository institutions is one particular regulatory application of this more general theoretical framework. The paper concludes with a comparison between the Basle Accord and the 100% reserve or narrow banking proposal as the means of achieving a risk-free medium of exchange and a financial system that facilitates the optimal transfer of resources from savers to investors consistent with society’s aversion towards risk.     

The collation of forensic DNA case data into a multi-dimensional intelligence database

The primary aim of any DNA Database is to link individuals to unsolved offenses and unsolved offenses to each other via DNA profiling. This aim has been successfully realised during the operation of the New Zealand (NZ) DNA Databank over the past five years. The DNA Intelligence Project (DIP), a collaborative project involving NZ forensic and law enforcement agencies, interrogated the forensic case data held on the NZ DNA databank and collated it into a functional intelligence database. This database has been used to identify significant trends which direct Police and forensic personnel towards the most appropriate use of DNA technology. Intelligence is being provided in areas such as the level of usage of DNA techniques in criminal investigation, the relative success of crime scene samples and the geographical distribution of crimes. The DIP has broadened the dimensions of the information offered through the NZ DNA Databank and has furthered the understanding and investigative capability of both Police and forensic scientists. The outcomes of this research fit soundly with the current policies of 'intelligence led policing', which are being adopted by Police jurisdictions locally and overseas.     

Exploring gender differences in dating violence/harassment prevention programming in middle schools: results from a randomized experiment

In this study, we randomly assigned 123 sixth and seventh grade classrooms from seven middle schools in the greater Cleveland area to one of two five-session curricula addressing gender violence/sexual harassment (GV/SH) or to a no-treatment control group. A baseline survey and two follow-up surveys were administered immediately after the treatment (Wave 2) and about six months post-treatment (Wave 3). In an earlier paper, we demonstrated the effectiveness of two approaches to youth GV/SH prevention programming (a fact-based, law and justice curriculum and an interaction-based curriculum). In this paper, we explored whether these largely positive findings remain for both girls and boys, including whether girls experience higher levels of GV/SH than boys. Most of our statistical models proved to be non-statistically significant. However, in 2 of our 48 victimization/perpetration (any violence, sexual violence and non-sexual violence) models (across two post-intervention follow-up points), we observed that the interventions reduced peer (male or female, non-dating partner) sexual violence victimization and reduced peer perpetration, but another outcome model indicated that the interventions increased dating perpetration. These mixed findings will need to be explored further in future research. Regarding our primary research question, we observed no statistically significant differences for the treatment multiplied by gender interaction terms for any of the perpetration or victimization outcome models, suggesting that the treatment had similar effects on girls and boys. However, we did observe that boys are more involved in violence than girls: both as victims and perpetrators. Boys experienced significantly more of three types of victimization from peers and dating partners compared to what girls experienced at the hands of their peers and dating partners. As perpetrators, boys committed more sexual victimization against peers (immediately post-intervention only) and more sexual victimization against dating partners than girls. The implications of these results are discussed.     

Informal Controls and the Explanation of Propensity to Offend: A Test in Two Urban Samples

Propensity to offend is an important and stable predictor of offending. A person’s propensity is often thought of as a multidimensional trait consisting of morality and low self-control. The aim of this paper is to explain individual differences in propensity to offend as one single construct and two of its dimensions, namely morality and low self-control. It is well established that low levels of morality and low self-control increase the risk of offending. However, there is less empirical research that focuses on the main predictors of morality and self-control. Therefore the main research question for this study is to explain to what extent parental attachment, parental control and the school social bond have a direct effect on one’s propensity to offend (low morality or delinquency tolerance and low self-control). The data are drawn from two different samples of young adolescents in Antwerp, Belgium (N = 2,486), and Halmstad, Sweden (N = 1,003). The results show that parental control, parental attachment and the school social bond have direct effects on individual differences in propensity to offend, regardless of individual background variables. The results are highly equivalent in both samples. The similarity of the results across two independent samples suggests that the findings are stable. Implications for further studies are discussed.     

Assessing the victim-offender overlap among Puerto Rican youth

Purpose

Knowledge about offenders and knowledge about victims has traditionally been undertaken without formal consideration of the overlap among the two. A small but growing research agenda has examined the extent of this overlap. At the same time, there has been a minimal amount of research regarding offending and victimization among minority youth, and this is most apparent with respect to Hispanics, who have been increasing in population in the United States.

Materials &; Methods

This study explores the joint, longitudinal overlap between offending and victimization among a sample of Puerto Rican youth from the Bronx, New York.

Results

Results indicate: (1) an overlap between offending and victimization that persists over time, (2) a considerable overlap in the number, type, direction, and magnitude of the effect of individual, familial, peer, and contextual factors on both offending and victimization, (3) some of the factors related to offending were only relevant at baseline and not for the growth in offending but that several factors were associated with the growth in victimization, and (4) various risk factors could not explain much of the overlap between offending and victimization.

Conclusions

Theoretical, policy, and future research directions are addressed.